On February 8, 2013, Clifford A. Brown voluntarily resigned from the board of directors (the “Board”) of Tara Minerals Corp., a Nevada corporation (the “Company”). Mr. Brown’s resignation was not a result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

David Barefoot, the Company’s Chief Operating Officer, was elected to the Board to replace Mr. Brown on February 8, 2013. There are no arrangements, understandings or family relationships between Mr. Barefoot and any other person(s) pursuant to which Mr. Barefoot was appointed as a director of the Company, nor are there any transactions between Mr. Barefoot and the Company in which he has a direct or indirect material interest that the Company is required to report under Item 404(a) of Regulation S-K. Mr. Barefoot does have an employment agreement with the Company, under which he is compensated for his services as the Company’s Chief Operating Officer. However, Mr. Barefoot will not receive any compensation for his services as a director of the Company.